Title
Subject: Modify MAP Loans With Resale Restrictions
From: Housing And Community Development Department
Recommendation: Adopt A Resolution Authorizing Modifications To The Repayment Terms For First-Time Homebuyer Mortgage Assistance Program Loans Funded After April 2001 On Resale Restricted Properties To Allow Loan Assumption And Limit Recapture To A Share Of Appreciation, And Amending The Consolidated Plan For Housing And Community Development To Provide For These Modifications